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Brazilian lawmakers are now considering a groundbreaking bill that would allow employers to pay their workers using cryptocurrencies such as Bitcoin. Introduced by Federal deputy Luiz Philippe de Orleans e Bragança this legislation aims to integrate digital currencies into the mainstream of salary and benefit payments while ensuring a portion remains in the national currency the Brazilian real.
The proposed bill which was filed on March 12 restricts cryptocurrency payments to a maximum of 50% of total wages with the rest compensated in Brazilian reais. This measure is designed to bolster the financial technology sector and attract more crypto investments into Brazil’s economy promoting a flexible yet regulated approach to digital currency earnings.
Deputy Orleans e Bragança who has a historical lineage to Brazil’s former royal family emphasizes that this move will provide employees and employers more autonomy in their payment agreements. This initiative follows global trends where countries like Switzerland Japan and Portugal have seen successful integrations of crypto payments enhancing the financial landscape through regulated flexibility.
